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Cbus launches self-managed option
Cbus has introduced a self-managed investment option where members can invest in companies in the S&P/ASX300 index.
The option is available to members with $40,000 or more in their account, and for those who have a basic grasp of investing, including the concept of risk and return, and diversification.
"We understand that for the vast majority of Cbus members they expect the Fund to manage their superannuation and will want to stay in the default Cbus Growth (MySuper) or other standard investment options," CEO David Atkin said.
"However there is a small cohort who want to have a greater say in managing the spread of their investments and are prepared to pay a bit extra to do so."
Atkin said the self-managed option makes sure members have diversification so that allocation in any one investment option cannot exceed 10 per cent, and cannot exceed 80 per cent of the total account balance.
"Additionally $10,000 must be kept in other standard Cbus investment options to ensure their account remains functional."
The self-managed option includes an online investment platform, and includes investment research from UBS.
Investors can invest in 16 exchange traded funds from Vanguard, iShares and State Street, as well as term deposits from National Australia Bank and ME Bank.
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This self managed system is quite poor, why on earth can’t we place a sell at more then 3% of current price? Do you guys not want us self managed to do any good?
Also it seems only the rich can succeed here, the 10% rule is crazy , a person like me with under 50k can only play the risky game of penny shares as the purchase power is not there to make any decent money from small amounts of decent shares.
Another issue is the self managed site continually crashes , I have had share orders not going through due to not meeting my limmit price but they somehow bought 1/2 the shares instead without my concent .
You get what you pay for in life. Why on earth would you want to be in Cbus.
Oh I’d love to shift to a good super fund with a decent self managed platform , I just don’t know of any, suggestions would be great , but like I said under 50k , not sure who will do that like Cbus , open to suggestions